Economics: Level 1

<p>The economy has a great influence on people and businesses. Are you interested in how the economy functions and how people, firms, and society at large are affected by economic conditions? Would you like to know more about how economic policy works and what it can achieve?</p><p>The introductory course in economics provides you with an overview of how the economy works. The economy consists of individuals and firms making decisions. You will learn to understand and analyse how those decisions together shape the economy.</p><p>In the first module, Microeconomics, you will analyse the decision-making of individuals and firms, how demand and supply interact in the market and why different goods and services have different prices. You will also examine the public sector and how taxes and other policy instruments impact the economy.</p><p>In the second module, Macroeconomics, you will analyse the economy as a whole. You will learn why a country’s economy sometimes performs well, sometimes less well, and in a worst case falls into crisis. You will understand what determines unemployment and inflation in a country, as well as its interest rate and exchange rate. You will also analyse how the government and the central bank use economic policy to influence economic outcomes.</p><p>In the third module, Financial Economics, you will gain an understanding of how the financial market operates and how to value securities such as bonds, shares and options.</p><p>In the fourth module, International Economics, you will analyse why trade between countries arises and whether trade generates gains for everyone or only for some. You will also learn about international cooperation and trade policy.</p>